Did you know that
liens on your home and property can be avoided in Bankruptcy!
Often a bank or a creditor will attempt to garnish your wages, attach your home
or foreclose. You may have a wage garnishment as the result of a lawsuit. You may even have a furniture lien as collateral by a finance company without your knowledge.
Second mortgages can be eliminated if they have no equity in the property
and often lenders even fail to properly record car liens within 10 days and
car liens can even be avoided.
You may even be able to avoid these liens on your home or property when you file a bankruptcy, if
you tell your attorney you need this done. Normally consensual and judicial
liens can be avoided by language in the Chapter 13 plan or by a 522 f motion
to avoid the lien. Income tax liens must be handled differently since
they are statutory liens and instead an offer is made to the IRS to value
their lien.
Bankruptcy can offer a way to avoid the lien on your home if a creditor has attached your home and is threatening to sell it. Our Bankruptcy Manual tells you exactly how to avoid liens by filing bankruptcy. Tax liens and liens from finance companies on your furniture can often be avoided in bankruptcy
by filing a 522 f motion. Did you know that personal income taxes can be bankrupted after just
three years after the return became due as long as you have filed your taxes properly and have not had any tax assessments for that tax debt within the 240 days?
If your wages or bank account has been garnished you may be able to get that money back.
Local Kentucky Bankruptcy Rules allow you to avoid a foreclosure if you can repay the arrearage on your home within
3-5 years within a Chapter 13. In Indiana and other states Chapter 13 Bankruptcy rules are
often more liberal. But all states have similar bankruptcy rules.
The Bankruptcy Manual discusses how to avoid liens
including tax liens. Download your free copy. The Bankruptcy manual is for informational purposes only. The Bankruptcy Manual comes in rtf format for word or
WordPerfect, pdf for adobe, or you can download the audio.
